What is OKR?
OKR stands for Objectives and Key Results. OKR is an effective goal-setting, performance management, and leadership tool that can help you align your personal goals with those of the company and succeed.
The OKR methodology helps teams and individuals set ambitious goals with measurable results. It helps to track progress, create alignment within the team and encourage engagement among the employees. Leading organizations such as Google and Amazon use this technique to set their strategies which are moving them towards success.
What is OKR Tracking?
The process of tracking objectives and Key results to measure the success of an organization is known as OKR (Objective & Key Results) Tracking. It ensures that the goals you assigned to your team members are being met. In simple Words, OKR tracking is the process of monitoring the progress of assigned OKRs. To know if the OKR is achieved properly, you must track your objectives and results in an organized way.
Importance Of OKR Tracking-
- Keep an eye on your overall performance of employees- To achieve success, you must keep an eye on your employee’s overall key results. If performance is not corrected then mistakes can easily happen again in the future and this can lead to failure for the company as well. OKR Tracking is a great way of making sure that the little details/mistakes don’t go unnoticed.
- Making sure professional and personal goals are aligned- OKR Tracking is a system that helps to make sure both employees’ goals and companies’ missions are aligned towards the overall Goal. When you track your OKRs, you will come across, who is working for the company and who is not.
- Tracking the Overall progress of the company and forecasting success – OKR tackings makes it possible for you to track all of your company’s progress so that no department goes unnoticed. With this tracking information at hand and using what has been learned from previous periods of success or failure; forecasting can be done accordingly.
- Rewarding/Appreciating deserving employees/ teams – OKR tracking helps in revealing who has performed better and this enables managers to Reward/Appreciate the deserving employees/ teams because if you track the results you will know who performed better or the best.
- The cultural shift at your organization to an environment that is goal-oriented and transparent- when the employees are aware that they need to deliver certain kinds of results and their results will be tracked then they become more goal-oriented and the company’s environment becomes more transparent.
- Encourage Focus and accountability- when the employees know their performance is tracked they become more productive and accountable for what they have done and what they haven’t. By Tracking OKR employees tend to increase their focus and performance.
- Motivating your team to meet stated objectives- OKR tracking enables employees to meet the stated objectives because they know if they will complete the given objective then they will be appreciated/ rewarded. Employees feel motivated if their performance is good and they are appreciated for it.
There are countless advantages of OKR and Tracking OKRs. The one who understands the importance of OKR & OKR tracking will become a master of his work and become successful. Huminos is the ultimate OKR software that your business needs.